Corporate Law Group

Corporate Governance in India

Of late, Corporate Governance has become an issue with regulatory bodies like the Stock Exchange Board of India (SEBI) and concepts of ‘Independent Directors’, ‘Independent Auditors’, Global Generally Accepted Accounting Principles (Global GAAP) have become increasingly popular with corporate bodies in India. Transparency being the ‘catch-word’, there have been many instances corporate bodies have been called upon by regulatory bodies in India like SEBI to explain/account for substantial share transfers, suppression/manipulation of Governance Government facts, share acquisition without conforming to relevant regulatory guidelines etc.

Corporate Governance has become an important issue in India for a number of reasons e.g. increasing demand for/insistence on clean ‘corporate governance’ track-record by business partners, strict Corporate Governance Guidelines of Regulatory Bodies, need for transparency for growth & progress, in-house ‘expertise’ and ‘independent advice’ requirement, statutes like the Competition Act, 2002, the Companies Act, 1956 etc.

CLG’s corporate governance practice team works with listed companies. We counsel entities, boards, committees, directors, trustees and executive officers on the process and procedures of corporate governance. This ranges from fiduciary duty questions to governance structures, advice on specific transactions, audits, compliance and best practices.

Professional Services for industry-specific and Transaction Specific Corporate Governance Check-Lists.
Analysis of internal governance procedures and controls.
Developing Internal Corporate Governance Code in conformity with established Corporate Governance principles.
Formulation of redressal schemes for overcoming past infraction of Corporate Governance principles.
Investigation and Due Diligence on Corporate Governance for specific commercial transactions.
Due Diligence on observance of Corporate Governance vis-à-vis Clients’ potential business partners for sensitive sectors like banking, insurance, fund management and other non-banking financial services, which require stricter “Corporate Governance” guidelines.
Consultancy Services on compliance with evolving best practices standards.
Caution services against business transactions with entities facing ‘Corporate Governance’ proceedings.
Professional services on regulatory compliance of corporate Governance requirements including share transfer & acquisition Guidelines, appointment of independent Directors & Auditors etc.

Before clearing transactions for our Clients, CLG’s team of lawyers work closely with experts for thorough due diligence on potential collaborators, joint venture partners, more particularly on their past track records like share transfer & transaction history and other relevant stock market records from the perspective of good ‘Corporate Governance’ principles.